
What’s the outlook for UK smaller companies in 2024?
Paul Marriage, manager of the TM Tellworth UK Smaller Companies fund, gives his outlook for the UK smaller companies sector and ultimately shares why he’s optimistic about the year ahead.
Watch the full interview with Paul here
I think UK small cap managers are always quite positive about the outlook, that’s our kind of nature in life. We’re trying to buy growth businesses, so if we think about where we’ve come from; ’22 was a really tough year, it was a downgrade year. ’23 was a bit of recovery year in the end, had a few false dawns, but in the end we made money. Feels like we’re on the cusp of it in ’24. We’ve put behind a lot of issues [that] we had in ’22 and ’23 kind of globally – supply chain issues. [In] ’24, companies who’ve got sensible earning forecasts, they’re coming into on very low valuations. We’ve got lots of M&A. So yeah, genuinely feeling pretty positive about the opportunity to make a a really good return for small caps in ’24.